Muse Lean Business Model
Problem
Long term investmentAs a memory-logging app, Muse requires long-term investment in time and energy to sustain interest. CompetitionCompeting memory makers like Timehop, Facebook Memories, and 1SED have built-in audiences. Music copyrightsHow to handle copyrights for audio in memoriesSpotify API > need users to verify |
Solution
Finding and targeting specialized usersThrough field testing and more user-focused needfinding interviews, we can narrow down our demographics and hone in on exactly who would be interested and gain value in our tool. Differentiation from competitionMuse has a unique and accessible focus on sonic, visual, and written encoding of memory. Research copyrightsLook into how apps like TikTok and Spotify handle music incorporation. Use songs in User's music library (no copyright issue with this since they own the songs) |
Unique Value Proposition
Turning music into memoriesMuse leverages multisensory encoding to make powerful memories that users will remember and enjoy for a long time. |
Unfair Advantage
Novel ideaMuse leverages multimodal sensory input that is psychologically robust to inform memory. Low activation energyMuse automates a vast majority of the memory-making process, allowing users to focus on memory content. Strong design aestheticMuse is unique in its aesthetic and design, with both modern and retro elements. |
Customer Segments
Young adultsPeople who've grown up accustomed to Spotify, TikTok, and other sonically-focused social media apps might like Muse as another way to log and share memories. Bullet journalersStand-in for those who like organizational structures and frameworks to organize their thoughts and memories. |
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Key Metrics
Time spentTime spent on app logging memories, looking at explore page, etc. Retention rateLong-term record of users logging memories, viewing other friends' memories, using explore page |
Channels
App storeApple's App Store for now, but potential long-term integration with the Google Play store in the future. Online interest communities.Tapping into communities on Facebook, TikTok, Instagram and more that enjoy framed ways to reflect and think. Word of mouth/viral loopWhen users share memories with non-users, that opens a potential user up we wouldn't otherwise have been able to access. |
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Cost Structure
Copyright for music playbackWe're still unsure about how playing music on our app will work and anticipate the major cost would contribute to this. Advertising for user acquisitionWe'll likely spend money getting people onboarding into using the app by putting Muse out there through social media campaigns. Data storageAs a data-heavy app, it may require a lot of storage to store the photos and memory texts. |
Revenue Stream
AdvertisementsAdvertisements for revenue (music-related) Promotion feesIf artists are interested, there could be a potential in monetizing the songs featured on the app. Subscription fee for tiered accessAlternative form of revenue that limits access to certain aspects of the app for subscription access |
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